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Monday, November 23, 2009

15 Year Mortgages Rates Hit All Time Low

4 comments

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According to, Thomas Grillo in the Boston Herald
The average rate for 15-year mortgages reached a new bottom this week, dipping from 4.40 percent to 4.32 percent—the lowest level since Freddie Mac began tracking rates in 1991.

Rates for 30-year mortgages approached the all-time low of 4.78 percent again last week, falling to 4.83 percent from an average of 4.91 percent a week ago.

Wellesley College economist Karl Case says the Federal Reserve’s efforts to purchase mortgage-backed securities from Fannie Mae and Freddie Mac is lowering rates on home loans.

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4 Responses to “15 Year Mortgages Rates Hit All Time Low”

  1. Chance Gates on November 23, 2009 at 10:35 am

    To receive emails on houses your interested in visit http://www.reno-sparkshomes.listingbook.com

  2. Frank on November 23, 2009 at 11:54 am

    Do you think now would be a good time to refinance my home.

  3. Chance Gates on November 23, 2009 at 12:15 pm

    Yes!! I believe you need your equity to be within 125% of market value, in order to do so.

  4. Chance Gates on November 23, 2009 at 12:16 pm

    However you might be able to do a loan modification, something to check with your bank. If your in trouble of foreclosure checkout http://chancegates.com/2009/06/12/homeowners%E2%80%99-right-to-mediation-requirement-before-foreclosure/